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| revenue = {{profit}} {{INRConvert|63302.5|m}} <small>(FY 2017–18)</small><ref name="money">{{cite web|url=https://www.moneycontrol.com/financials/ceat/profit-loss/C07 |title=Ceat |publisher=moneycontrol.com |date=}}</ref> | | revenue = {{profit}} {{INRConvert|63302.5|m}} <small>(FY 2017–18)</small><ref name="money">{{cite web|url=https://www.moneycontrol.com/financials/ceat/profit-loss/C07 |title=Ceat |publisher=moneycontrol.com |date=}}</ref> | ||
| net_income = {{profit}} {{INRConvert|2787.2|m}} <small>(FY 2017–18)</small><ref name=money/> | | net_income = {{profit}} {{INRConvert|2787.2|m}} <small>(FY 2017–18)</small><ref name=money/> | ||
| equity = {{profit}} {{INRConvert|404.5|m}} <small>(FY 2017–18)</small>,<ref>https://beta.bseindia.com/stock-share-price/financials/results/500878/</ref><ref>{{cite news |title=Add Ceat, target price Rs 923: ICICI Securities |url=https://economictimes.indiatimes.com/markets/stocks/recos/add-ceat-target-price-rs-923-icici-securitiesbr/articleshow/76149272.cms |work=The Economic Times |date=2 June 2020}}</ref> | | equity = {{profit}} {{INRConvert|404.5|m}} <small>(FY 2017–18)</small>,<ref>{{Cite web|url=https://beta.bseindia.com/stock-share-price/financials/results/500878/|title = Stock Share Price | Get Quote | BSE}}</ref><ref>{{cite news |title=Add Ceat, target price Rs 923: ICICI Securities |url=https://economictimes.indiatimes.com/markets/stocks/recos/add-ceat-target-price-rs-923-icici-securitiesbr/articleshow/76149272.cms |work=The Economic Times |date=2 June 2020}}</ref> | ||
| num_employees = ~8,000 | | num_employees = ~8,000 | ||
| parent = [[RPG Group]] | | parent = [[RPG Group]] | ||
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}} | }} | ||
'''CEAT Limited''' (formerly, '''Cavi Elettrici e Affini Torino''')<ref>{{Cite web|last=Limited|first=CEAT|date=|title=CODE OF FAIR DISCLOSURE AND CONDUCT|url=https://www.ceat.com/data/investor/corporate-governance/code-of-conduct/CEAT-Code-for-Fair-Disclosure-and-Conduct.pdf|url-status=live|archive-url=|archive-date=|access-date=|website=}}</ref><ref>{{Cite web|title= | '''CEAT Limited''' (formerly, '''Cavi Elettrici e Affini Torino''')<ref>{{Cite web|last=Limited|first=CEAT|date=|title=CODE OF FAIR DISCLOSURE AND CONDUCT|url=https://www.ceat.com/data/investor/corporate-governance/code-of-conduct/CEAT-Code-for-Fair-Disclosure-and-Conduct.pdf|url-status=live|archive-url=|archive-date=|access-date=|website=}}</ref><ref>{{Cite web|title=What's in that name?|url=https://www.thehindubusinessline.com/catalyst/whats-in-that-name/article8332082.ece|access-date=2020-09-09|website=@businessline|language=en}}</ref><ref>{{Cite web|title=CEAT: its past and its present – Aragorn Group|url=http://aragorn-group.com/2019/04/16/ceat-its-past-and-its-present/|access-date=2020-09-09|language=en-GB}}</ref> is an [[India|Indian multinational]] tyre manufacturing company owned by the [[RPG Group]]. It was established in 1924 in [[Turin]], [[Italy]]. It has a presence in global markets. CEAT produces over 165 million tyres a year and manufactures tyres for passenger cars, two-wheelers, trucks and buses, light commercial vehicles, [[Heavy equipment|earth-movers]], [[forklift]]s, tractors, trailers, and [[Auto rickshaw|auto-rickshaws]]. The current capacity of CEAT tyres' plants is over 800 tonnes per day.<ref name="about">[http://www.ceat.com – About us]</ref> | ||
== History == | == History == | ||
[[File:2017-09-01 (259) Ceat Formula Winter 175-70 R 13 82 T tire at Bahnhof Ybbs an der Donau.jpg|thumb|Ceat Formula Winter]] | [[File:2017-09-01 (259) Ceat Formula Winter 175-70 R 13 82 T tire at Bahnhof Ybbs an der Donau.jpg|thumb|Ceat Formula Winter]] | ||
The company was founded as Cavi Elettrici e Affini Torino (Electrical Cables and Allied Products of Turin) by Virginio Bruni Tedeschi | The company was founded as Cavi Elettrici e Affini Torino (Electrical Cables and Allied Products of Turin) by Virginio Bruni Tedeschi in 1924, in [[Turin]], [[Italy]].<ref>{{Cite news|url=https://www.thehindubusinessline.com/catalyst/whats-in-that-name/article8332082.ece|title=What's in that name?|work=@businessline|access-date=4 December 2018|language=en}}</ref> On 10 March 1958, the company was incorporated as CEAT Tyres of India, in [[Mumbai]]. Initially, the company collaborated with the [[Tata Group]].<ref name=":0">{{Cite web|url=https://www.ndtv.com/business/stock/ceat-ltd_ceatltd/reports|title=CEAT: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of CEAT - NDTV|website=www.ndtv.com|language=en|access-date=4 December 2018}}</ref> In 1972, the company set up a research and development unit at [[Bhandup]]. In 1981, Deccan Fibre Glass Limited was merged with the company.<ref>{{Cite web|url=https://economictimes.indiatimes.com/ceat-ltd/infocompanyhistory/companyid-13914.cms|title=Ceat History {{!}} Ceat Information - The Economic Times|website=economictimes.indiatimes.com|access-date=4 December 2018}}</ref><ref>{{cite news |last1=Oberoi |first1=Rahul |title=Watch out 94 big winners of last four bull markets! They may surprise again |url=https://economictimes.indiatimes.com/markets/stocks/news/watch-out-94-big-winners-of-last-four-bull-markets-they-may-surprise-again/articleshow/75343184.cms |work=The Economic Times |date=24 April 2020}}</ref> | ||
In 1982, [[RPG Group]] acquired the company, and in 1990, the company was renamed as CEAT.<ref name=":0"/> In 1993, the company collaborated with [[Yokohama Rubber Company]], to manufacture [[Radial tire|radial tyres]] at their [[Nashik]] unit.<ref name=":1">{{Cite | In 1982, [[RPG Group]] acquired the company, and in 1990, the company was renamed as CEAT.<ref name=":0"/> In 1993, the company collaborated with [[Yokohama Rubber Company]], to manufacture [[Radial tire|radial tyres]] at their [[Nashik]] unit.<ref name=":1">{{Cite news|url=https://www.business-standard.com/company/ceat-104/information/company-history|title=CEAT Company History - Business Standard News {{!}} Page 1|last=Standard|first=Business|newspaper=Business Standard India|language=en|access-date=4 December 2018}}</ref> In 1999, CEAT formed a joint-venture, named as CEAT Kelani, with [[Asia MotorWorks]] (AMW) and Kelani Tyres, to manufacture and market<ref>{{cite news |title=Buying opportunity for investors as Sensex, Nifty off 34% from record highs; 3 stocks set to rise up to 26% |url=https://www.financialexpress.com/market/buying-opportunity-for-investors-as-sensex-nifty-off-34-from-record-highs-3-stocks-set-to-rise-up-to-26/1934055/ |work=The Financial Express |date=20 April 2020}}</ref> CEAT tyres in [[Sri Lanka]]. in 2006, CEAT Kelani commissioned their first Sri Lanka-based radial-tyre manufacturing unit in [[Kalutara District|Kalutara]].<ref name=":1" /> In 2009, AMW exited the joint-venture.<ref>{{Cite web|url=http://www.businesstoday.lk/article.php?article=3801|title=BUSINESS TODAY -CEAT Kelani Holdings A Synergy Driven By Quality And Reliability|last=Today|first=Business|website=www.businesstoday.lk|access-date=4 December 2018}}</ref> | ||
== Products == | == Products == | ||
CEAT manufactures tyres<ref>{{cite news |title=Tyre makers likely to see demand revival on govt's rural boost; CEAT, Apollo, JK Tyre in focus |url=https://www.moneycontrol.com/news/business/markets/tyre-makers-likely-to-see-demand-revival-on-govts-rural-boost-ceat-apollo-jk-tyre-in-focus-5440101.html |work=Moneycontrol}}</ref> for various types of vehicles like heavy commercial vehicles, light commercial vehicle, off-highway tyres, passenger cars, tractors, motorcycles and scooters, cycles and SUVs. It exports | CEAT manufactures tyres<ref>{{cite news |title=Tyre makers likely to see demand revival on govt's rural boost; CEAT, Apollo, JK Tyre in focus |url=https://www.moneycontrol.com/news/business/markets/tyre-makers-likely-to-see-demand-revival-on-govts-rural-boost-ceat-apollo-jk-tyre-in-focus-5440101.html |work=Moneycontrol}}</ref> for various types of vehicles like heavy commercial vehicles, light commercial vehicle, off-highway tyres, passenger cars, tractors, motorcycles and scooters, cycles and SUVs. It exports [[Asia]].<ref name=":0" /> | ||
==Sponsorship== | ==Sponsorship== | ||
CEAT is the bat sponsor of cricketers [[Rohit Sharma]], [[Shreyas Iyer]], [[Mayank Agarwal]], [[Ajinkya Rahane]]<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/services/advertising/ceat-signs-four-year-endorsement-deal-with-ajinkya-rahane/articleshow/55001327.cms|title=CEAT signs four-year endorsement deal with Ajinkya Rahane|last=Laghate|first=Gaurav|date=22 October 2016|work=The Economic Times|access-date=4 December 2018}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/auto/tyres/ceat-extends-bat-deal-with-rohit-sharma-by-3-years/articleshow/66444543.cms|title=CEAT extends bat deal with Rohit Sharma by 3 years|last=Laghate|first=Gaurav|date=31 October 2018|work=The Economic Times|access-date=4 December 2018}}</ref> and [[Harmanpreet Kaur]].<ref>{{Cite news|url=http://www.sportspromedia.com/news/harmanpreet-kaur-inks-cricket-bat-deal-with-ceat|title=Harmanpreet Kaur inks cricket bat deal with CEAT|access-date=4 December 2018|language=en}}</ref><ref>{{Cite news|url=https://www.insidesport.co/mithali-raj-leads-indian-women-power-on-crickets-commercial-pitch/|title=Women in Blue marching into | CEAT is the bat sponsor of [[cricket|cricketers]] [[Rohit Sharma]], [[Shreyas Iyer]], [[Mayank Agarwal]], [[Ajinkya Rahane]]<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/services/advertising/ceat-signs-four-year-endorsement-deal-with-ajinkya-rahane/articleshow/55001327.cms|title=CEAT signs four-year endorsement deal with Ajinkya Rahane|last=Laghate|first=Gaurav|date=22 October 2016|work=The Economic Times|access-date=4 December 2018}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/auto/tyres/ceat-extends-bat-deal-with-rohit-sharma-by-3-years/articleshow/66444543.cms|title=CEAT extends bat deal with Rohit Sharma by 3 years|last=Laghate|first=Gaurav|date=31 October 2018|work=The Economic Times|access-date=4 December 2018}}</ref> and [[Harmanpreet Kaur]].<ref>{{Cite news|url=http://www.sportspromedia.com/news/harmanpreet-kaur-inks-cricket-bat-deal-with-ceat|title=Harmanpreet Kaur inks cricket bat deal with CEAT|access-date=4 December 2018|language=en}}</ref><ref>{{Cite news|url=https://www.insidesport.co/mithali-raj-leads-indian-women-power-on-crickets-commercial-pitch/|title=Women in Blue marching into Men's commercial domain - InsideSport|last=Sharma|first=Harsh|date=26 November 2018|work=InsideSport|access-date=4 December 2018|language=en-US}}</ref> From 2015–18, CEAT sponsored the strategic-timeout for the [[Indian Premier League]] (IPL).<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/auto/tyres/ceat-tyres-to-sponsor-ipl-strategic-timeout/articleshow/46534844.cms|title=CEAT Tyres to sponsor IPL strategic timeout|last=Dasgupta|first=Pritha Mitra|date=12 March 2015|work=The Economic Times|access-date=4 December 2018}}</ref> | ||
== Anti competition practices == | |||
In April 2022, the Competition Commission of India raided the headquarters of CEAT along with other tyre companies like Apollo Tyres, MRF (Madras Rubber Factory) and Continental Tyre at multiple locations. Earlier in February the antitrust watch dog had released a statement about fining these tyre companies a total of Rs 1788 crores (of which CEAT fined Rs 252.16 cr.) for sharing price sensitive information among themselves to manage their cartelization of tyre prices for supplies to the public transport corporation of Haryana state. Earlier the All India Tyre Dealers Federation had complained to the Ministry of corporate affairs about this cartelization of these companies to increase the tyre prices. The ministry had then referred the case to the CCI.<ref>{{Cite web |date=2022-04-03 |title=CCI Conducts Raids On Tyre Companies |url=https://www.cartoq.com/cci-conducts-raids-on-tyre-companies/ |access-date=2022-04-04 |language=en-US}}</ref> | |||
== References == | == References == | ||
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[[Category:Automotive companies of India]] | [[Category:Automotive companies of India]] | ||
[[Category:RPG Group]] | [[Category:RPG Group]] | ||
[[Category:Indian brands]] | [[Category:Indian brands]] | ||
[[Category:Manufacturing companies established in 1924]] | [[Category:Manufacturing companies established in 1924]] | ||
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[[Category:1982 mergers and acquisitions]] | [[Category:1982 mergers and acquisitions]] | ||
[[Category:Multinational companies headquartered in India]] | [[Category:Multinational companies headquartered in India]] | ||
[[Category:Companies listed on the National Stock Exchange of India]] | |||
[[Category:Companies listed on the Bombay Stock Exchange]] | |||
Latest revision as of 08:09, 26 April 2022
| Error creating thumbnail: File missing | |
Formerly | Cavi Elettrici e Affini Torino |
|---|---|
| Traded as | |
| Industry | Tyres & Tubes |
| Founded | Turin, Italy (1924) |
| Founder(s)s | Virginio Bruni Tedeschi |
| Headquarters | Worli, Mumbai, India |
Key people | Harsh Goenka (Chairman) Anant Goenka (MD) |
| Revenue | |
| Total equity | |
Number of employees | ~8,000 |
| Parent | RPG Group |
| Website | ceat |
CEAT Limited (formerly, Cavi Elettrici e Affini Torino)[4][5][6] is an Indian multinational tyre manufacturing company owned by the RPG Group. It was established in 1924 in Turin, Italy. It has a presence in global markets. CEAT produces over 165 million tyres a year and manufactures tyres for passenger cars, two-wheelers, trucks and buses, light commercial vehicles, earth-movers, forklifts, tractors, trailers, and auto-rickshaws. The current capacity of CEAT tyres' plants is over 800 tonnes per day.[7]
History[edit | edit source]
The company was founded as Cavi Elettrici e Affini Torino (Electrical Cables and Allied Products of Turin) by Virginio Bruni Tedeschi in 1924, in Turin, Italy.[8] On 10 March 1958, the company was incorporated as CEAT Tyres of India, in Mumbai. Initially, the company collaborated with the Tata Group.[9] In 1972, the company set up a research and development unit at Bhandup. In 1981, Deccan Fibre Glass Limited was merged with the company.[10][11]
In 1982, RPG Group acquired the company, and in 1990, the company was renamed as CEAT.[9] In 1993, the company collaborated with Yokohama Rubber Company, to manufacture radial tyres at their Nashik unit.[12] In 1999, CEAT formed a joint-venture, named as CEAT Kelani, with Asia MotorWorks (AMW) and Kelani Tyres, to manufacture and market[13] CEAT tyres in Sri Lanka. in 2006, CEAT Kelani commissioned their first Sri Lanka-based radial-tyre manufacturing unit in Kalutara.[12] In 2009, AMW exited the joint-venture.[14]
Products[edit | edit source]
CEAT manufactures tyres[15] for various types of vehicles like heavy commercial vehicles, light commercial vehicle, off-highway tyres, passenger cars, tractors, motorcycles and scooters, cycles and SUVs. It exports Asia.[9]
Sponsorship[edit | edit source]
CEAT is the bat sponsor of cricketers Rohit Sharma, Shreyas Iyer, Mayank Agarwal, Ajinkya Rahane[16][17] and Harmanpreet Kaur.[18][19] From 2015–18, CEAT sponsored the strategic-timeout for the Indian Premier League (IPL).[20]
Anti competition practices[edit | edit source]
In April 2022, the Competition Commission of India raided the headquarters of CEAT along with other tyre companies like Apollo Tyres, MRF (Madras Rubber Factory) and Continental Tyre at multiple locations. Earlier in February the antitrust watch dog had released a statement about fining these tyre companies a total of Rs 1788 crores (of which CEAT fined Rs 252.16 cr.) for sharing price sensitive information among themselves to manage their cartelization of tyre prices for supplies to the public transport corporation of Haryana state. Earlier the All India Tyre Dealers Federation had complained to the Ministry of corporate affairs about this cartelization of these companies to increase the tyre prices. The ministry had then referred the case to the CCI.[21]
References[edit | edit source]
- ↑ 1.0 1.1 "Ceat". moneycontrol.com.
- ↑ "Stock Share Price | Get Quote | BSE".
- ↑ "Add Ceat, target price Rs 923: ICICI Securities". The Economic Times. 2 June 2020.
- ↑ Limited, CEAT. "CODE OF FAIR DISCLOSURE AND CONDUCT" (PDF).
{{cite web}}:|last=has generic name (help)CS1 maint: url-status (link) - ↑ "What's in that name?". @businessline. Retrieved 9 September 2020.
- ↑ "CEAT: its past and its present – Aragorn Group". Retrieved 9 September 2020.
- ↑ – About us
- ↑ "What's in that name?". @businessline. Retrieved 4 December 2018.
- ↑ 9.0 9.1 9.2 "CEAT: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of CEAT - NDTV". www.ndtv.com. Retrieved 4 December 2018.
- ↑ "Ceat History | Ceat Information - The Economic Times". economictimes.indiatimes.com. Retrieved 4 December 2018.
- ↑ Oberoi, Rahul (24 April 2020). "Watch out 94 big winners of last four bull markets! They may surprise again". The Economic Times.
- ↑ 12.0 12.1 Standard, Business. "CEAT Company History - Business Standard News | Page 1". Business Standard India. Retrieved 4 December 2018.
{{cite news}}:|first=has generic name (help) - ↑ "Buying opportunity for investors as Sensex, Nifty off 34% from record highs; 3 stocks set to rise up to 26%". The Financial Express. 20 April 2020.
- ↑ Today, Business. "BUSINESS TODAY -CEAT Kelani Holdings A Synergy Driven By Quality And Reliability". www.businesstoday.lk. Retrieved 4 December 2018.
{{cite web}}:|first=has generic name (help) - ↑ "Tyre makers likely to see demand revival on govt's rural boost; CEAT, Apollo, JK Tyre in focus". Moneycontrol.
- ↑ Laghate, Gaurav (22 October 2016). "CEAT signs four-year endorsement deal with Ajinkya Rahane". The Economic Times. Retrieved 4 December 2018.
- ↑ Laghate, Gaurav (31 October 2018). "CEAT extends bat deal with Rohit Sharma by 3 years". The Economic Times. Retrieved 4 December 2018.
- ↑ "Harmanpreet Kaur inks cricket bat deal with CEAT". Retrieved 4 December 2018.
- ↑ Sharma, Harsh (26 November 2018). "Women in Blue marching into Men's commercial domain - InsideSport". InsideSport. Retrieved 4 December 2018.
- ↑ Dasgupta, Pritha Mitra (12 March 2015). "CEAT Tyres to sponsor IPL strategic timeout". The Economic Times. Retrieved 4 December 2018.
- ↑ "CCI Conducts Raids On Tyre Companies". 3 April 2022. Retrieved 4 April 2022.